The National Bureau of Statistics recently released data: in the first quarter, the total profit of industrial enterprises above designated size in China reached 1,505.53 billion yuan, an increase of 4.3% year-on-year. From a quarterly point of view, the profits of industrial enterprises have increased for three consecutive quarters, continuing the recovery trend.

95UVS1E-1CEX Revenue of industrial enterprises continued to recover. Market demand has gradually improved, and new drivers have accelerated growth, driving corporate revenue to continue to recover. In the first quarter, the operating income of industrial enterprises increased by 2.3% year-on-year, the growth rate was 1.2 percentage points higher than that of the previous year, and the revenue in the quarter increased for three consecutive quarters, creating favorable conditions for the continued recovery of corporate profits.

Nearly 70% of the industries saw their profits increase. In the first quarter, among 41 industrial categories, 28 industries saw year-on-year profit growth, accounting for 68.3%, an increase of 2.4 percentage points over the previous year. By category, manufacturing profits increased by 7.9% year on year; The profits of the electricity, heat, gas and water production and supply industry increased by 40.0% year-on-year, maintaining a rapid growth trend.

High-tech manufacturing led industrial profit growth. In the first quarter, the profit of high-tech manufacturing industry increased by 29.1% year-on-year, the growth rate was 24.8 percentage points higher than the industrial average. By industry, the profit of the communication terminal equipment industry increased by 3.47 times. The profits of integrated circuit, display device and computer machine manufacturing industries increased by 10.83 billion yuan, 7.61 billion yuan and 4.80 billion yuan respectively.

95UVS1E-1CEX The equipment manufacturing industry plays the role of “ballast stone” for profit growth. In the first quarter, the profit of the equipment manufacturing industry increased by 18.0% year-on-year, driving the industrial profit growth of 4.9 percentage points, which is the largest contribution to the industry sector. By industry, the profits of the electronics and automotive industries increased by 82.5% and 32.0%, respectively, and were the manufacturing industries that drove the largest increase in industrial profits. The profits of railway, ship, aerospace and transportation equipment, general equipment and metal products industries increased by 45.8%, 7.9% and 6.7% respectively.

Consumer goods manufacturing profits maintained rapid growth. With the further implementation of the policy of expanding domestic demand and promoting consumption, consumer demand has been continuously released. In the first quarter, the profit of consumer goods manufacturing industry increased by 10.9% year-on-year, and the profit in the quarter maintained double-digit growth for three consecutive quarters, which strongly supported the recovery of industrial profits.